Upcoming IPOs in July 2024

On Friday, June 28, 2024, India’s main stock indexes opened at record highs. The Nifty 50 started at 24,085.90 and the Sensex at 79,457.58, driven by Reliance Industries after its telecom division announced tariff hikes. The previous day, June 27, the Nifty 50 closed above 24,000 for the first time, at 24,044.50 (up 175.70 points or 0.7%), and the Sensex closed at 79,243.18 (up 568.92 points or 0.7%). Gains in IT and power stocks helped drive these increases. Both indexes have reached record highs for three consecutive sessions. In June, the Nifty has risen 6.72% and the Sensex 7.14%, marking their best month since December 2023.

Against this backdrop, several companies are set to launch their initial public offerings (IPOs) in July 2024, providing new opportunities for investors. If you are looking for a List of Upcoming IPOs to invest in, here are the ones that have disclosed their required IPO details.

Mainboard IPO

Emcure Pharmaceuticals Limited

Emcure Pharmaceuticals Limited, a leading Indian pharmaceutical company, is set to launch its IPO from July 3, 2024, to July 5, 2024. The company develops, manufactures, and globally markets a broad spectrum of pharmaceutical products across several major therapeutic areas. Emcure Pharma IPO price band is fixed at Rs 960 to Rs 1008 per share, with a minimum lot size of 14 shares. Retail investors will need a minimum investment of Rs 14,112. The allotment is expected to be finalized on July 8, 2024, with a tentative listing on the BSE and NSE on July 10, 2024.

For the fiscal year ending March 31, 2024, Emcure reported revenue of Rs 6,658.25 crore, reflecting an 11.2% increase from Rs 5,985.8 crore in 2023. However, the profit after tax decreased to Rs 527.57 crore from Rs 561.8 crore. The company plans to use the net proceeds from the IPO for repaying or prepaying certain outstanding borrowings and for general corporate purposes. This strategic move aims to strengthen the company’s financial health and support its growth trajectory.

Bansal Wire Industries Limited

Bansal Wire Industries Limited, a manufacturer of stainless-steel wire, is launching its IPO from July 3, 2024, to July 5, 2024. Bansal Wire IPO, entirely a fresh issue of 2.91 crore shares, is valued at Rs 745.00 crore. The price band is set at Rs 243 to Rs 256 per share, with a minimum lot size of 58 shares, requiring a minimum investment of Rs 14,848 from retail investors. The allotment date is July 8, 2024, and the shares are expected to be listed on the BSE and NSE on July 10, 2024.

For the fiscal year ending March 31, 2024, Bansal Wire’s revenue stood at Rs 2,470.89 crore, marking a 1.99% increase from Rs 2,422.57 crore in 2023. The company’s profit after tax rose significantly to Rs 78.80 crore from Rs 59.93 crore. The proceeds from the IPO will be utilised for repaying or prepaying certain borrowings, investing in a subsidiary for similar purposes, funding working capital requirements, and general corporate purposes.

SME IPO

Ambey Laboratories

Ambey Laboratories, established in 1985, is an agrochemical company specialising in crop protection products. The company’s IPO, comprising a fresh issue of 65.52 lakh shares worth Rs 44.55 crore and an offer for sale of 3.12 lakh shares amounting to Rs 2.12 crore, will be open for subscription from July 3, 2024, to July 5, 2024. The price band is set at Rs 65 to Rs 68 per share. With a minimum lot size of 2000 shares, retail investors need to invest at least Rs 136,000. The allotment is expected to be finalised on July 8, 2024, and the listing on the NSE SME is set for July 10, 2024.

The funds raised through the IPO will be directed towards the company’s working capital needs and general corporate purposes. Ambey Laboratories’ strong market presence and extensive experience in the agrochemical sector position it well for sustained growth, making its IPO an attractive proposition for investors.

Stay ahead with the latest on Upcoming IPOs! Discover promising opportunities and get ready to invest.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.